出口退税、行业集中度与出口行业“盯市”行为研究  

A Research of Export Tax Rebates,Industry Concentration and the Behavior of Pricing to Market(PTM)

作　　者：项后军[1] 何康[1] 宋申栋 

机构地区：[1]浙江财经大学经济学院,浙江杭州310018

出　　处：《财经论丛》2016年第8期3-11,共9页Collected Essays on Finance and Economics

基　　金：国家自然科学基金面上项目(71573224);浙江省社科基金重点项目(14NDJC010Z)

摘　　要：本文以金融危机前后曾出现的出口退税较大调整为背景,应用面板平滑转换模型(PSTR)对出口行业"盯市"(依市定价)程度与出口退税、行业集中度之间的关系展开探讨。研究结果表明,就行业集中度而言,无论危机前还是危机后始终对出口行业的PTM行为产生影响,且均与PTM存在平滑转变的非线性关系;出口退税仅在危机后的大幅提升后才对PTM影响显著,并表现为突变的快速向下的门限效应,而危机前对PTM并无影响;与出口退税相比,行业集中度对PTM的影响虽非立竿见影但却是缓慢且持久的。Using the more recently developed panel threshold regression models , this paper investigates the nonlinear re-lationship between Pricing to market （ PTM） of export prices on industry level and concentration ratio of industry and nonlinear relationship between Pricing to market （ PTM） of export prices on industry level and export tax rebates under two different eco -nomic backgrounds.The results of the study include the following four points.First, PTM before the financial crisis is differ-ent from PTM after the financial crisis.Secondly , in terms of industry concentration , industry concentration always exercises a great influence on PTM under different economic backgrounds , and there is a nonlinear relationship between PTM and industry concentration under different economic backgrounds.Thirdly, In terms of export tax rebates , there is neither linear nor nonlin-ear relationship between PTM and export tax rebates before financial crisis while export tax refund has significant effects on PTM after financial crisis.There is a threshold effect between PTM and export tax refund after financial crisis.Finally, Com-pared with the export tax rebate , industry concentration has more significant effect on PTM.

关 键 词：汇率传递 盯市行为 金融危机 面板平滑转换模型 

分 类 号：F74[经济管理—国际贸易]